The report "Integrated Bridge Systems Market by End User (OEM, Aftermarket), Ship Type (Commercial: Bulk Carriers, Dredgers, Defense: Frigates, Corvettes, OPVs and Leisure), Tonnage (<10t, <100t, <1000t and >1000t) Subsystem (INS, VDR, AWOS, AIS), Component (Hardware, Software), and Region - Global Forecast to 2026", size is estimated to surpass USD 8.8 billion by 2026, at a CAGR of 3.9% from 2021 to 2026. The market’s growth can be attributed to the rise in seaborne trade and growth in maritime tourism.
Browse 139 market data Tables and 40 Figures spread through 180 Pages and in-depth TOC on "Integrated Bridge Systems Market - Global Forecast to 2026"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/integrated-bridge-system-market-140505598.html
“Commercial segment projected to register higher CAGR than defense segment from 2021 to 2026”
Based on ship type, the integrated bridge systems market has been segmented into commercial and defense. The commercial segment is projected to grow at a higher CAGR during the forecast period owing to growth in seaborne trade, leading to an increase in demand for integrated bridge systems in commercial ships. Among the commercial ship types, the dredgers segment is estimated to witness the highest CAGR over the forecast period. There is an increasing demand for dredgers in the marine industry as they serve in excavation and scraping of the sea bed to ensure safer voyages.
“OEM segment projected to register higher CAGR than aftermarket segment during forecast period”
By end user, the OEM segment of the integrated bridge system is expected to register higher growth than the aftermarket segment, owing to as increase in demand for advanced IBS equipped with sensor fusion solutions by ship owners, due to which the manufacturers of IBS are focusing on providing a complete IBS as a package as per new navigation and safety regulations. A few of the prominent players in the integrated bridge systems market include Kongsberg, Northrop Grumman Corporation, Wartsila, and Raytheon Company.
“Asia Pacific integrated bridge systems market projected to grow at highest CAGR from 2021 to 2026”
The integrated bridge systems market is projected to register the highest CAGR in the Asia Pacific region during the forecast period. The shipbuilding industry in Asia Pacific is on the rise, because one-third of the global container traffic flows through ports in China. According to the World Shipping Council, the first 10 busiest container ports are in Asia. As per UNCTAD, in 2020, 62% of the total world container port volume was from Asia. Continues focus on high technology adoption and support equipment manufacturing has led the Chinese shipbuilders to dominate the world market in both commercial and naval shipbuilding segments globally. The key players in the region, such as China, South Korea, and Japan, are making advances in terms of technical competency so as to capture a greater market share of the commercial maritime industry
Some of the key players profiled in the integrated bridge systems market report include Kongsberg (Norway), Wärtsilä (Finland), Northrop Grumman Corporation (US), Raytheon Company (US), Furuno Electric Co. Ltd. (Japan), and Japan Radio Co. Ltd. (Japan).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441